Milkomeda
5 known investors
Find your way into Milkomeda
Milkomeda provides rollup and sidechain technology that brings EVM/Solidity smart contract support to Layer 1 blockchains such as Cardano, Algorand, and Solana, enabling cross-chain interoperability. It targets blockchain developers building DeFi, NFT, and gaming applications who want to port Ethereum projects and deploy across multiple chains.</parameter> <parameter name="sector_codes">["crypto", "devtools", "deeptech"]
Also known as Milkomeda A1 Rollup Β· Milkomeda C1 Β· Milkomeda Protocol
Investors Β· 5
Company profile
researched Aug 2026Milkomeda is a blockchain interoperability protocol that adds Ethereum Virtual Machine (EVM) capability to Layer 1 chains that do not natively support Solidity smart contracts. Its two live networks are Milkomeda C1, an EVM sidechain for Cardano whose base gas asset is MilkADA (wrapped ADA moved across the Milkomeda bridge), and Milkomeda A1, an EVM-based rollup for Algorand that went live on Algorand mainnet in October 2022. The protocol positions itself as a Layer 2/interoperability layer that lets developers deploy the same Solidity contracts across multiple otherwise incompatible ecosystems, with stated plans to extend to Solana and to migrate the Cardano deployment from a sidechain toward a rollup as mainchain data availability improves.
Around the core chains, Milkomeda operates a set of user and developer tooling: a block explorer, an asset bridge and a bridge explorer, MetaMask network configurations for C1 (chain ID 2001) and A1, integration with the Flint Cardano wallet's "Milkomeda mode" for wrapping ADA into MilkADA, and a DApp Store launched in November 2022 cataloguing protocols built on the networks. Target application categories are DeFi (stablecoins, DEXes, money markets), bridges, NFTs and blockchain games. Additional stated technical work includes wrapped smart contracts allowing users to invoke contracts across systems without switching wallets, a compatibility layer intended to support zk-rollups, and adjacent open-source infrastructure attributed to dcSpark such as the Cardano Multiplatform Library and the CARP Cardano Postgres indexer.
Milkomeda is developed by dcSpark, whose co-founders (Nicolas Arqueros, CEO; Sebastien Guillemot, CTO; Robert Kornacki, CSO) describe themselves as core contributors to the protocol, with a Milkomeda Foundation issuing grants. Ecosystem growth is run through an accelerator (Batch 1, applications closed April/May 2022) and a successor Incubator program (Batch 2 applications closed), both powered by dcSpark and dlab, the blockchain program created by SOSV in 2018.
Founding story
Milkomeda is named after the predicted merger of the Milky Way and Andromeda galaxies roughly four billion years in the future. It was created as a protocol by the founders of dcSpark β Nicolas Arqueros (CEO, formerly CTO of Emurgo and a Cardano Foundation board member), Sebastien Guillemot (CTO, formerly VP of Engineering at Emurgo) and Robert Kornacki (CSO, formerly Head of Research at Emurgo and an Ergo Foundation board member) β who chose Cardano as the first deployment because of their prior involvement in that ecosystem. [7]
Business model
Milkomeda operates as a public blockchain protocol rather than a conventional software vendor: it runs the C1 sidechain and A1 rollup, where users pay network transaction and gas fees denominated in the wrapped base asset (MilkADA on C1), plus an additional bridging fee to block producers when assets are wrapped between the mainchain and Milkomeda. Development and ecosystem activity are funded substantially through grants, including Cardano Project Catalyst proposals across Funds 7, 8 and 9 and an Algorand Foundation SupaGrant, and the protocol in turn redistributes grant capital to third-party teams via its accelerator and incubator. The sources do not describe a commercial revenue model. [0][4][6]
Sources describe network transaction fees on the Milkomeda C1 sidechain (paid to block producers) and an elevated fee on wrapping transactions between Cardano and C1, but do not state how the company itself monetizes. [0]
Traction
According to a May 2022 developer-portal interview, Milkomeda launched the first sidechain for Cardano and briefly surpassed $100M in total value locked within a month of launch. A December 2022 year-in-review states that dozens of DApps were deployed across Milkomeda's two interoperability solutions during 2022 and that multiple audits and formal verification of the bridge's Solidity contracts were completed. The A1 rollup went live on Algorand mainnet on 19 October 2022. The company has filed 27 grant proposals listed on its site (26 Catalyst, 1 Algorand), several marked completed. [4][5][7]
Latest developments
The most recent item on the company site is a 9 February 2023 Catalyst proposal update describing planned improvements to the EVM-based Cardano sidechain's user experience, simplified interaction with sidechains and Layer 2s, and continued focus on interoperability security. Immediately prior were the launch of the Milkomeda Incubator (9 January 2023) and the announcement of formal verification of the Milkomeda bridge smart contracts (5 January 2023). [0][4][6]
βΈFull profile β market position, technology, go-to-market, geography, history, risks & controversies
Market position
Milkomeda describes itself as the first sidechain for Cardano and, as of a May 2022 interview, the only Layer 2 protocol available on Cardano, and as the operator of the first Milkomeda rollup on Algorand. Its stated distribution advantage is exposing non-EVM ecosystems to the pool of developers already writing Solidity. Sources contain no third-party market-share or comparative data. [5][7]
Stated differentiators are EVM/Solidity compatibility on chains that lack it; use of the host chain's native token (e.g. ADA) as the base gas currency rather than a separate protocol token; wrapped smart contracts that let end users execute contracts across systems without switching wallets; a bridge hub connecting several external ecosystems; and audited plus formally verified bridge contracts. [0][4][7]
Technology
Milkomeda C1 is an EVM-compatible sidechain for Cardano (chain ID 2001, RPC endpoint rpc-mainnet-cardano-evm.c1.milkomeda.com, MetaMask-compatible, MilkADA as base gas asset), accessed by locking ADA on Cardano and minting wrapped assets on the sidechain; the wrapping transfer requires 10 confirmations, roughly five minutes. Milkomeda A1 is an EVM-based rollup on Algorand, described as the project's first rollup deployment. A distinct ERC-20 "Wrapped ADA" (WADA) token exists on the sidechain, analogous to WETH. Supporting components include the Milkomeda Explorer, Asset Bridge and Bridge Explorer, bridge connections to Ethereum, Avalanche, Binance Smart Chain, Polkadot and Solana, and stated research into data availability, rollups and zk-rollup compatibility. The bridge's Solidity smart contracts underwent multiple audits and formal verification, announced January 2023. [0][1][4][7]
Go-to-market
Growth is driven by developer programs rather than sales: a Milkomeda Accelerator (Batch 1, applications closed in April/May 2022) and a Milkomeda Incubator (Batch 2, applications closed; rolling selection), both powered by dcSpark and dlab, each offering selected startups $10k USDC funding (with the Incubator offering $10k for Cardano and $10k for Algorand, non-exclusive), mentorship, technical support, promotion through Milkomeda and dlab channels, and access to follow-on funding from dlab and partner VCs. Milkomeda also runs hackathons (including a DAO Hackathon completed in 2022), liquidity provisioning competitions with partners such as Multichain and Blueshift, a DApp Store, documentation and wallet-integration guides, and funds ecosystem work through Cardano Catalyst proposals. [0][3][4][6]
Developers and startups building DeFi protocols, DAOs, NFT platforms and blockchain games who want to deploy Solidity code to Cardano, Algorand and other non-EVM chains, plus end users of those chains seeking access to bridged assets such as USDC, USDT, WBTC and ETH. [0][3][6][7]
Geography
Sources do not state a headquarters or office locations; the project operates as a globally distributed, remote effort tied to the Cardano and Algorand ecosystems, with programs run jointly with dlab, which describes a fully remote global program. [3][6]
History
The project's earliest recorded fundraising reference is an August 2021 seed entry on a third-party tracker (amount undisclosed and not independently confirmed). The Cardano C1 sidechain launched first, followed by grant-funded ecosystem work through Cardano Catalyst Funds 7, 8 and 9. An accelerator Batch 1 ran with applications closing 22 April 2022 and decisions by mid-May 2022. The Milkomeda A1 rollup launched on Algorand mainnet on 19 October 2022. Later 2022 milestones include the DAO Hackathon (completed by November 2022), the DApp Store (November 2022), a holiday liquidity competition with Multichain and Blueshift (December 2022) and a year-in-review (December 2022). In January 2023 the team announced formal verification of the bridge smart contracts and the Milkomeda Incubator; a Catalyst proposal update followed in February 2023. [0][3][4][6]
Risks & controversies
Sources note no controversies. Structural risks visible in the material include dependence on grant funding (Cardano Catalyst, Algorand Foundation) rather than disclosed venture capital, reliance on bridge security β mitigated by stated audits and formal verification but inherently a high-risk component β tight coupling to the fortunes of the Cardano and Algorand ecosystems, the Solana deployment still being described only as planned, and the absence of publicly confirmed funding amounts. Community channels for Telegram, GitHub, Reddit and YouTube were listed as "coming soon". [2][4]
Compiled by commissioned research from 8 cited public sources β announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed β not independently audited.
Timeline Β· 7
launches, deals, and filingsAn incubation program for startups building on Cardano and Algorand, powered by dcSpark and dlab, offering $10k USDC for Cardano and $10k USDC for Algorand projects plus mentorship and promotion; Batch 2 applications later closed.
The project announced formal verification of the Solidity smart contracts underpinning the Milkomeda bridge, in addition to multiple completed audits.
Milkomeda partnered with Multichain and Blueshift on a liquidity provisioning competition spanning its A1 (Algorand) and C1 (Cardano) networks.
Launch of a directory of DeFi protocols, bridges, explorers and developer tools built on the Milkomeda networks.
The project published results of its first DAO hackathon, including winners and judging process.
Milkomeda's first EVM-based rollup, the A1 Rollup, launched on the Algorand mainnet, following the C1 sidechain for Cardano.
Batch 1 of the acceleration program, powered by dcSpark and dlab, closed applications (priority deadline 22 April 2022), offering selected startups $10k USDC funding plus a $10k USDC non-dilutive grant and 6+ weeks of programming; applicants were to be notified by mid-May 2022.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
βΈResearch sources Β· 8
primary sources listed
- Milkomedamilkomeda.com Β· web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Milkomeda do?
- Milkomeda builds EVM/Solidity sidechain and rollup layers for non-EVM Layer 1 chains including Cardano, Algorand and Solana.
- Who are Milkomeda's investors?
- Milkomeda's investors include Arrington Capital, Coinbase Ventures, Sora Ventures, Triblock, Arrington XRP Capital.